United Capital Plc in its Q2 2017 financials, grew revenue by a meagre 6% to N3.9bn. Though investment income grew by 17% in the period, operating profit was down by 6% to N3.2bn. A 40% rise in operating expense led to an 8% drop in profit before tax to N2.4bn while, a 26% fall in income tax didn't salvage after tax profit as it slipped by 44% to N2bn. The drop in bottom-line came on the reins of a one-off sale of the group's investment in one of its associates in Q2 2016.
Balance sheet numbers weren't impressive either as total assets fell by 7% to 124bn, while managed funds were down 19% to N81bn. Net assets grew by 3% to N15bn as total liabilities dropped by 8%.
| Income Statement | Q2 2017 | Q2 2016 | % Change |
| Revenue (mn) | 3,876 | 3,666 | 6% |
| Investment Income (mn) | 2,016 | 1,721 | 17% |
| Operating Income (mn) | 3,214 | 3,411 | -6% |
| Operating Expense (mn) | 1,499 | 1,074 | 40% |
| PBT (mn) | 2,378 | 2,581 | -8% |
| TAX Expense/Credit (mn) | 380 | 516 | -26% |
| PAT (mn) | 1,997 | 3,591 | -44% |
| Balance Sheet | Q2 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 273 | 171 | 60% |
| Total Assets (mn) | 149,158 | 160,693 | -7% |
| Financial Asset (mn) | 124,422 | 134,050 | -7% |
| Managed Funds(mn) | 81,056 | 100,679 | -19% |
| Financial Liabilities (mn) | 40,562 | 34,833 | 16% |
| Total Liabilities (mn) | 134,534 | 146,455 | -8% |
| Net Assets (mn) | 14,624 | 14,238 | 3% |
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